Grieg Seafood reports positive Q3 farming results, advances strategic transformation

Grieg Seafood ASA reported positive Q3 2025 results, with its Rogaland farming operations achieving an EBIT/kg of NOK 3.2, despite challenging seawater conditions. The company's harvest volume for the quarter was 6,820 tonnes. Freshwater production in Rogaland was strong, increasing smolt size, and Grieg Seafood entered Q4 2025 near maximum MAB. Approvals for the divestment of Finnmark and Canada operations are progressing with Norwegian and US authorities, with an expected close in Q4 2025.

The strategic transformation includes a new operating model with a ~55% reduction in HQ FTEs, focusing on cost reduction. Grieg Seafood is also in the final phase of negotiating a new bank syndicate, aiming for improved financial margins and terms. The company maintains a long-term target equity ratio of 50% and estimates a NOK 4 bn dividend following the transaction's closing.

Capital expenditures for continued operations in FY 2025 are reduced by NOK 110m to NOK 215m, with NOK 60m shifted to 2026. The company is committed to sustainable farming practices, evidenced by 80% of its Q3 2025 harvest volume being ASC certified.